Pegatron plans up to NT$15 billion bonds, $300 million convertibles

New York, May 9 – Taiwan-based Pegatron Corp.’s board of directors approved the issuance of up to NT$15 billion of corporate bonds and up to $300 million of zero-coupon euro convertible bonds, according to two company announcements.

The corporate bonds may be issued in installments, depending on market conditions, and the underwriting method and underwriter will be chosen by Pegatron’s chairman, again according to market conditions.

Proceeds will be used to repay loans and for working capital.

The convertible bonds will have a 0% coupon, a five-year maturity and will be priced at par.

Proceeds will also be used to repay loans and for working capital.

As with the corporate bonds, the underwriting method and underwriter will be chosen by the chairman, depending on market conditions.

Pegatron is a Taipei, Taiwan-based developer of computing, communications and consumer electronics, as well as computer peripherals.

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